A driving force behind the decision to be taxed as an S corporation as opposed to a partnership or disregarded entity is the potential for reducing self-employment taxes. Partners in a partnership or members in an LLC (and sole-proprietors) who provide services to their business...
On June 30th, the Washington State Legislature passed Substitute Senate Bill 5975, which offers employees paid time off for serious health conditions or for the birth or adoption of a child and to care for a family member with a serious health condition. Family member...
Expect fewer posts…at least through April; I’ve got work to do! But if you’re interested in learning more about when to issue a 1099-MISC, read this excellent post by Cathy Derus. I was unaware that if you make payments using a credit card, debit card, or...
It’s December – that time of year when mutual funds give out capital gain distributions (whether wanted or not) to fund owners. These are distributions for gains realized within the fund, and they create taxable income for the fund owner. If you aren’t paying attention,...